APEI
American Public Education Inc
$58.27
+0.44 (+0.76%)
At close · Jul 10
Market Cap
$1.07B
Shares
18,343,488
Income-statement, balance-sheet and cash-flow figures extracted from the company's SEC filings — 10-K annual and 10-Q quarterly reports — and standardised for comparison across periods.
Revenue
$648.86M
+3.9%
FY2025
Net Income
$31.56M
+95.8%
FY2025
Gross Margin
54.22%
+1.6pp
FY2025
Operating Margin
7.39%
+2.1pp
FY2025
Diluted EPS
$1.36
+147.3%
FY2025
Operating Cash Flow
$61.97M
+26.8%
FY2025
Chart any reported metric, KPI or segment over time — the full statement history lives here
Search above to add metrics — fundamentals, product and segment revenue, company KPIs, valuation.
| Line Item | FY2026 (G) | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| — | $659.05M | $648.86M | $624.56M | $600.55M | $606.33M | $418.8M | $321.79M | $286.27M | $297.69M | $299.25M | $313.14M | — | — | — | — | — | $198.17M | $149M | $107.15M | $69.1M | |
| — | — | — | — | — | — | — | — | — | — | $185K | $116K | $115K | $361K | $308K | $135K | $109K | $111K | — | — | — | |
| — | $296.71M | $297.02M | $295.7M | $292.86M | $288.47M | $172.62M | $122.16M | $111.92M | $115.28M | $116.16M | $117.01M | — | — | — | — | — | — | — | — | — | |
| — | $362.34M | $351.84M | $328.86M | $307.68M | $317.86M | $246.18M | $199.62M | $174.35M | $182.41M | $183.09M | $196.13M | — | — | — | — | — | — | — | — | — | |
| — | — | 54.22% | 52.65% | 51.23% | 52.42% | 58.78% | 62.04% | 60.91% | 61.27% | 61.18% | 62.63% | — | — | — | — | — | — | — | — | — | |
| — | $139.91M | $137.25M | $128.81M | $132.96M | $154.65M | $93.32M | $72.99M | $60.03M | $57.04M | $58.34M | $59.1M | $62.4M | $69.23M | $65.69M | $59.76M | $44.71M | $34.3M | $20.48M | $12.36M | $6.77M | |
| — | $144.47M | $144.58M | $141.96M | $128.24M | $120.35M | $103.38M | $88.04M | $78.08M | $74.46M | $69.02M | $68.67M | $73.05M | $74.96M | $70.06M | $63.62M | $48.35M | $32.05M | $25.04M | $21.3M | $15.34M | |
| — | — | — | $3.3M | $12.2M | $15.8M | $5.1M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| — | $16.31M | $16.15M | $19.3M | $27.82M | $32.13M | $17.83M | $12.98M | $15.6M | $17.5M | $18.78M | $19.38M | $20.52M | $16.12M | $13.51M | $11.15M | $9.24M | $6.5M | $5.23M | $4.24M | $2.83M | |
| — | $601.72M | $600.93M | $591.49M | $648.85M | $743.68M | $388.43M | $297.03M | $273.51M | $265.16M | $264.39M | $274.86M | $275.63M | $284.19M | $262.04M | $244.71M | $197.52M | $148.15M | $109.13M | $81.46M | $54.4M | |
| — | $57.33M | $47.94M | $33.07M | -$48.31M | -$137.35M | $30.37M | $24.76M | $12.76M | $32.53M | $34.86M | $38.28M | $52.28M | $65.83M | $67.44M | $68.8M | $62.86M | $50.02M | $39.87M | $25.69M | $14.69M | |
| — | — | 7.39% | 5.29% | -8.04% | -22.65% | 7.25% | 7.69% | 4.46% | 10.93% | 11.65% | 12.22% | — | — | — | — | — | 25.24% | 26.76% | 23.97% | 21.26% | |
| — | $73.64M | $64.08M | $52.37M | -$20.49M | -$105.22M | $48.2M | $37.74M | $28.35M | $50.03M | $53.64M | $57.66M | $72.8M | $81.95M | $80.95M | $79.95M | $72.1M | $56.52M | $45.1M | $29.92M | $17.52M | |
| — | — | — | — | — | $3.9M | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| — | $103K | — | — | — | — | — | — | — | — | — | — | — | — | — | — | $109K | $111K | $94K | $706K | $888K | |
| — | — | $0 | -$4.41M | -$5.24M | -$21K | -$831K | -$7000 | -$1.46M | -$515K | -$2.43M | $703K | $90K | -$166K | -$67K | -$86K | — | — | — | — | — | |
| — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -$86K | — | — | — | — | — | |
| — | $51.59M | $43.71M | $30.94M | -$52.77M | -$151.25M | $26.09M | $25.85M | $16.66M | $35.44M | $35.04M | $38.39M | $52.4M | $66.19M | $67.75M | $68.94M | $62.97M | $50.13M | $39.96M | $26.39M | $15.58M | |
| — | $11.2M | $12.15M | $10.42M | -$10.72M | -$36.28M | $7.51M | $7.02M | $5.19M | $9.29M | $11.49M | $14.94M | $20.07M | $25.15M | $25.65M | $26.53M | $22.21M | $20.27M | $16.02M | $10.21M | $6.83M | |
| — | $40.4M | $31.56M | $16.11M | -$47.29M | -$114.99M | $17.75M | $18.82M | $10.01M | $25.64M | $21.12M | $24.16M | $32.41M | $40.88M | $42.03M | $42.32M | $40.76M | $29.87M | $23.94M | $16.19M | $8.75M | |
| — | — | 4.86% | 2.58% | -7.87% | -18.97% | 4.24% | 5.85% | 3.5% | 8.61% | 7.06% | 7.71% | — | — | — | — | — | 15.07% | 16.07% | 15.11% | 12.66% | |
| — | $35.58M | $25.31M | $10.06M | -$53.29M | -$115.04M | $17.75M | $18.82M | — | — | — | — | — | — | — | — | — | — | — | — | — | |
| — | $40.44M | $31.55M | $14.46M | -$48.74M | -$112M | $17.86M | $18.82M | $10.01M | — | — | — | — | — | — | — | — | — | — | — | — | |
| USD/shares | — | — | $1.40 | $0.57 | -$2.94 | -$6.10 | $0.98 | $1.27 | $0.62 | $1.56 | $1.30 | $1.50 | $1.94 | $2.36 | $2.38 | $2.38 | $2.28 | $1.63 | $1.32 | $0.91 | $0.69 |
| USD/shares | $2.33 – $2.68 | — | $1.36 | $0.55 | -$2.93 | -$6.08 | $0.97 | $1.25 | $0.62 | $1.54 | $1.29 | $1.49 | $1.93 | $2.33 | $2.35 | $2.35 | $2.23 | $1.59 | $1.27 | $0.86 | $0.64 |
| shares | — | — | 18.01M | 17.63M | 18.11M | 18.86M | 18.09M | 14.88M | 16.09M | 16.4M | 16.24M | 16.07M | 16.68M | 17.36M | 17.66M | 17.77K | 17.88M | 18.28M | 18.17M | 17.84M | 12.76M |
| shares | — | — | 18.66M | 18.15M | 18.19M | 18.91M | 18.26M | 15.05M | 16.26M | 16.63M | 16.38M | 16.21M | 16.8M | 17.54M | 17.92M | 18.04K | 18.3M | 18.84M | 18.91M | 18.82M | 13.6M |
Italic rows are computed from reported lines — open a row's info icon for its formula. Values reflect the latest filing (restatements included); per-share figures on today's split basis. Click a value for its source filing.
TTM: trailing twelve months through the latest reported quarter — flows sum the last four quarters, balances take the latest. 3Y/5Y/10Y columns are trailing CAGR from the newest fiscal year; blank where an endpoint is missing or negative. (G): the company's own guidance — a (G) column is a guided period not yet reported; a G marker shows how the reported figure landed against the guided range. Non-GAAP-basis guidance (*) is shown as stated and never judged against GAAP actuals.
Capital Returned to Shareholders
Cash spent on share repurchases and dividends per fiscal year, as reported on the cash-flow statement. Across FY2007–FY2025: $199.79M in buybacks, $93.75M in dividends.
Price & Valuation
Multiples computed on the strict TTM/EV methodology — today's snapshot against the industry, and each ratio recomputed as of past filing dates.
Valuation
EV/Revenue
—
Education & Training Services median 1.82×
EV/EBIT
—
Education & Training Services median 14.19×
P/E (TTM)
30.83×
Education & Training Services median 21.64×
Valuation over time computed as of each quarter's filing date
Revenue Breakdown
Annual revenue as the company disaggregates it in its own XBRL filings. Years a component wasn't reported show a dash.
Share mode is each component's slice of the reported components that year — issuers rarely tag every revenue dollar, so slices need not sum to total revenue.
By Segment (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| American Public Education Inc Segment | $319,842,000 | $317,049,000 | $303,303,000 | $285,128,000 | $283,700,000 | $285,938,000 | $257,050,000 | $260,062,000 |
| Rasmussen University | $246,231,000 | $216,262,000 | $214,086,000 | $253,257,000 | $89,483,000 | — | — | — |
| Rasmussen University Segment | $246,231,000 | $216,262,000 | $214,086,000 | $253,257,000 | $89,483,000 | $0 | $0 | — |
| Hondros College of Nursing Segment | $74,983,000 | $67,290,000 | $56,936,000 | $47,078,000 | $45,803,000 | $36,091,000 | $29,479,000 | $37,625,000 |
| Rasmussen University Member | — | — | — | $253,257,000 | $89,483,000 | $0 | $0 | — |
By Product & Service (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Instructional Services Net of Grants and Scholarships | $591,822,000 | $575,687,000 | $554,711,000 | $554,702,000 | $394,590,000 | $313,930,000 | $280,240,000 | $290,721,000 |
| Textbook and Other Course Materials | $47,667,000 | $42,228,000 | $40,263,000 | $45,704,000 | $20,156,000 | $5,197,000 | $3,650,000 | $4,678,000 |
| Other Fees | $5,491,000 | $4,190,000 | $3,807,000 | $4,574,000 | $2,748,000 | $1,322,000 | $1,242,000 | $1,219,000 |
| Graduation Fees | $3,882,000 | $2,454,000 | $1,764,000 | $1,348,000 | $1,309,000 | $1,336,000 | $1,138,000 | $1,069,000 |
Segment Operating Income
Annual operating income by business segment, as tagged in the company's own XBRL filings. Segments need not sum to the consolidated figure — corporate costs and eliminations are typically unallocated.
By Segment (USD)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| American Public Education Inc Segment | $90,825,000 | $89,422,000 | $84,426,000 | $58,452,000 | $51,050,000 | $43,438,000 | $37,225,000 | $28,561,000 |
| Rasmussen University Segment | $4,040,000 | -$21,798,000 | -$103,575,000 | -$166,557,000 | $1,630,000 | $0 | $0 | — |
| Hondros College of Nursing Segment | -$854,000 | -$1,122,000 | -$1,396,000 | -$4,011,000 | $1,829,000 | $722,000 | -$10,768,000 | $3,965,000 |
Operating Margin by Segment (%)
| Component | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| American Public Education Inc Segment | 28.4% | 28.2% | 27.8% | 20.5% | 18% | 15.2% | 14.5% | 11% |
| Rasmussen University Segment | 1.6% | -10.1% | -48.4% | -65.8% | 1.8% | — | — | — |
| Hondros College of Nursing Segment | -1.1% | -1.7% | -2.5% | -8.5% | 4% | 2% | -36.5% | 10.5% |
Key facts
CIK
1201792
CUSIP
02913V103
13F (30d)
10 filings
8 filers
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